Developing Asia’s sustained rapid growth has improved general living standards and lifted hundreds of millions of Asians out of poverty within a generation. Yet the region now finds itself confronting rising inequality. Countries where inequality has worsened over the past 2 decades collectively account for over 80% of Asia’s population. As a result, governments across the region have begun to accord a higher priority to promoting more inclusive growth. The international experience, especially the experience of the advanced economies, suggests that fiscal policy can make a potent contribution to reducing inequality. This book systematically explores the relationship between both sides of fiscal policy—public spending as well as taxes and other fiscal revenues—and inequality in Asia at great depths. On the basis of the analysis, the book sets forth a number of concrete options for rendering fiscal policy a more effective tool for more inclusive growth that benefits all Asians.
Inequality, Inclusive Growth, and Fiscal Policy in Asia is written in response to an issue of growing demand in most Asian countries, and it comes at a time when Asian governments are also beginning to use fiscal policy to bridge the glaring disparities between the rich and the poor of the region. As such, the book will be a highly valuable reference for researchers, policy makers, and students as well.
1. An Overview, Gemma Estrada, Sang-Hyop Lee, and Donghyun Park 2. Room at the Top: An Overview of Fiscal Space, Fiscal Policy, and Inclusive Growth in Developing Asia, Rathin Roy 3. Fiscal Policy and Growth in Developing Asia, Arnelyn Abdon, Gemma Estrada, Minsoo Lee, and Donghyun Park 4. Government Spending and Inclusive Growth in Developing Asia, Seok-Kyun Hur 5. Benefit Incidence of Public Transfers: Evidence from the People’s Republic of China, Ke Shen and Sang-Hyop Lee 6. Fiscal Resources for Inclusive Growth, Arindam Das-Gupta 7. Are Current Tax and Spending Regimes Sustainable in Developing Asia?, Sang-Hyop Lee and Andrew Mason 8. Fiscal Policy and Inclusive Growth in Latin America: Lessons for Asia, Sang-Hyop Lee and Donghyun Park 9. Fiscal Policy and Inclusive Growth in Advanced Countries: Their Experience and Implications for Asia, Almas Heshmati, Jungsuk Kim, and Donghyun Park 10. Summary of Key Findings and Main Policy Recommendations and Concluding Observations, Donghyun Park